| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Q > Headlines for Qwest Corp. > News item |
Qwest notes rally on redemption notice; U.S. Bancorp rises; Bank of America better
By James McCandless
San Antonio, Aug. 20 – The preferred market started the week’s trading broadly improving.
Qwest Corp., a wholly owned subsidiary of CenturyLink, Inc., saw its $25-par notes jump on a redemption notice.
U.S. Bancorp’s recent $575 million of 5.5% series K non-cumulative perpetual preferred stock continued to rise.
Bank of America Corp.’s 5.875% series HH non-cumulative perpetual preferred stock traded up.
KeyCorp’s 5.65% series F fixed-rate perpetual non-cumulative preferred stock gained.
Qwest jumps
Qwest’s $25-par notes saw strong gains after the company issued a redemption notice for four series of notes Monday morning.
The 7% notes due 2052 (NYSE: CTU) were up $1.91 to close at $25.27 on volume of about 386,000 shares.
The 6.75% notes due 2057 (NYSE: CTDD) were up 97 cents to close at $23.45 on volume of about 321,000 shares.
The 6.875% notes due 2054 (NYSE: CTV) were up $1.35 to close at $24.00 on volume of about 284,000 shares.
U.S. Bancorp rises
U.S. Bancorp’s recent $575 million of 5.5% series K non-cumulative perpetual preferred stock continued a positive trend to start the week.
The preferreds (NYSE: USBPrP) were up 7 cents to close at $25.27 on volume of about 955,000 shares.
On Thursday, the preferreds picked up 5 cents.
Bank of America up
Bank of America’s 5.875% series HH non-cumulative perpetual preferred stock improved, seeing increased attention in Monday trading.
The preferreds (NYSE: BACPrK) were up 10 cents to close at $25.48 with about 617,000 shares trading.
KeyCorp improves
KeyCorp’s 5.65% series F fixed-rate perpetual non-cumulative preferred stock continued to gain.
The preferreds (NYSE: KEYPrJ) were up 7 cents to close at $24.92 on volume of about 397,000 shares.
On Friday, the preferreds gained 6 cents.
Indexes up
The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.17% at the market close after an 0.08% increase in early trading on Monday.
The iShares US Preferred Stock ETF was up 8 cents to $37.64.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.